All articles by Jaclyn Jaeger – Page 54
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Blog
Danske Bank provides update on AML probe in France
Danske Bank said it might again become subject to a formal investigation in France, instead of being an assisted witness, in connection with an ongoing investigation into organised money laundering of tax evasion proceeds.
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Blog
New U.K. government taskforce to tackle economic crime
The Home Secretary and Chancellor will jointly chair a new government taskforce, the Economic Crime Strategic Board, to work with senior figures from the U.K. financial sector to tackle economic crime, the U.K. government announced on 14 January.
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Blog
Fiat Chrysler to pay $305M civil penalty in emissions-cheating case
Fiat Chrysler will pay a civil penalty of $305 million to settle claims of cheating emission tests and failing to disclose unlawful defeat devices, the Department of Justice announced on Jan. 10.
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Blog
SEC brings charges in EDGAR hacking case
The SEC has brought charges against nine defendants for participating in a previously disclosed scheme to hack into the SEC’s EDGAR system and extract non-public information to use for illegal trading.
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Article
Anti-corruption developments in emerging markets
In a recent webcast conducted by law firm Gibson Dunn, a panel of anti-corruption experts shared some key insights into the latest anti-corruption developments in some of the world’s largest—but most corrupt—regions and offered some practical tips on how to do business in these countries without running afoul of anti-corruption ...
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ArticleUnderstanding the territorial scope of the GDPR
EU companies should scrutinize new guidelines from the European Data Protection Board that signal the long arm of the GDPR extends far beyond the European Union.
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ArticleTop 10 risks that will keep executives on their toes in 2019
A recent survey conducted by global consulting firm Protiviti and North Carolina State University’s Enterprise Risk Management Initiative reveals the top 10 risks facing board of directors and executive management teams in 2019.
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ArticleBest practices in preventing a third-party data breach
Examining how “high-performing” organizations handle their third parties lights the path for companies looking to strengthen the weakest links in their data chains.
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Blog
Department of Justice closes FCPA probe into Ciena
Telecommunications company Ciena disclosed in its latest annual report that the Department of Justice advised the company that it has decided not to file any charges against it in connection with a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act.
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ArticleHow to break up with a third party the right way
Not all business relationships have a happy-ever-after ending, but there are things both parties can do to mitigate the risks of a third-party breakup.
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Blog
OCIE: Mitigating the risks of electronic messaging systems
Registered investment advisers will want to pay attention to some recent observations shared by the Office of Compliance Inspections and Examinations following an examination initiative it conducted that offers some key insights for firms to consider to strengthen their supervisory, compliance, and risk-management practices related to the use of electronic ...
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Blog
SFO: Former global sales director of Alstom Power sentenced in bribery case
Nicholas Reynolds received four years and six months imprisonment and was ordered to pay costs of £50,000 (U.S. $62,930) for his part in a conspiracy to bribe officials in Lithuania’s Elektrenai power station and senior Lithuanian politicians in order to win two contracts worth €240 million (U.S. $273 million), the ...
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Blog
Eletrobras compliance failures result in $2.5M penalty in FCPA case
Brazil’s state-run power company Eletrobras has agreed to pay a $2.5 million civil penalty for violations of the Foreign Corrupt Practices Act. Inside, the SEC administrative order details Eletrobras’s compliance failures.
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Blog
Hertz to pay $16M civil penalty for accounting violations
Car rental company Hertz Global Holdings will pay a $16 million civil penalty to settle a case concerning inaccurate financial reporting, the Securities and Exchange Commission announced in an order filed Dec. 31.
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Blog
Wells Fargo to pay $575M in 50-state settlement
Wells Fargo reached a $575 million settlement to resolve civil claims with all 50 state Attorneys General and the District of Columbia that the bank violated state consumer protection laws.
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Blog
IAV to pay $35M in emissions-cheating scandal
IAV GmbH, a German company that engineers and designs automotive systems, will pay a $35 million criminal fine for its role in a long-running emissions-cheating scandal concerning Volkswagen, the Department of Justice announced.
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Blog
French court fines Total SA €500,000 in Iran bribery case
The Paris Criminal Court on Dec. 21 found French oil and gas company Total SA guilty of bribing a foreign public official and ordered the company to pay a €500,000 (U.S. $570,000) fine.
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Article
OFAC to lift sanctions on three Russian companies
The U.S. Department of the Treasury’s Office of Foreign Assets Control notified Congress on Dec. 19 of its intention to lift sanctions imposed on three Russian companies.
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BlogTesla adds two new independent directors
As part of a deal reached with the Securities and Exchange Commission in September, Tesla has added two new independent directors to its board: Oracle co-founder Larry Ellison and Kathleen Wilson-Thompson, global chief human resources officer of Walgreens Boots Alliance.
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Blog
Will the EU improve its monitoring of money-laundering threats?
EU ambassadors on 19 December 2018 agreed to give the European Banking Authority (EBA) more power over anti-money-laundering supervision for financial institutions, but some doubt the effectiveness of these measures.